Avanos Medical Inc (NYSE:AVNS) Expected to Post Quarterly Sales of $180.63 Million

Wall Street brokerages predict that Avanos Medical Inc (NYSE:AVNS) will post $180.63 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Avanos Medical’s earnings. The highest sales estimate is $180.80 million and the lowest is $180.50 million. Avanos Medical reported sales of $165.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.4%. The firm is expected to issue its next earnings results on Tuesday, November 5th.

On average, analysts expect that Avanos Medical will report full year sales of $707.57 million for the current financial year, with estimates ranging from $705.07 million to $709.20 million. For the next financial year, analysts expect that the company will post sales of $760.08 million, with estimates ranging from $743.33 million to $769.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Avanos Medical.

Avanos Medical (NYSE:AVNS) last released its earnings results on Tuesday, August 6th. The company reported $0.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Avanos Medical had a negative net margin of 3.92% and a positive return on equity of 4.18%. The business had revenue of $172.20 million during the quarter, compared to analysts’ expectations of $172.02 million. During the same quarter last year, the company earned $0.20 earnings per share. The firm’s revenue was up 7.0% on a year-over-year basis.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Avanos Medical from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Stifel Nicolaus set a $45.00 target price on shares of Avanos Medical and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley set a $47.00 target price on shares of Avanos Medical and gave the company a “sell” rating in a research note on Wednesday, May 8th. ValuEngine raised shares of Avanos Medical from a “hold” rating to a “buy” rating in a research report on Tuesday, July 2nd. Finally, Raymond James dropped their price target on shares of Avanos Medical from $57.00 to $48.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $57.50.

Shares of NYSE AVNS traded down $0.58 during mid-day trading on Thursday, hitting $35.68. The company had a trading volume of 13,675 shares, compared to its average volume of 341,607. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.06 and a quick ratio of 2.35. The business’s 50-day simple moving average is $40.44 and its 200-day simple moving average is $42.90. Avanos Medical has a 12 month low of $35.21 and a 12 month high of $72.96. The firm has a market cap of $1.74 billion, a P/E ratio of 43.31 and a beta of 1.46.

In other Avanos Medical news, CEO Joseph Fralin Woody purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $39.95 per share, with a total value of $139,825.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.57% of the company’s stock.

A number of large investors have recently bought and sold shares of AVNS. Norges Bank acquired a new stake in shares of Avanos Medical during the fourth quarter worth approximately $33,253,000. RGM Capital LLC increased its holdings in shares of Avanos Medical by 1,659.3% during the second quarter. RGM Capital LLC now owns 751,523 shares of the company’s stock worth $32,774,000 after buying an additional 708,806 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Avanos Medical by 31.3% during the first quarter. Victory Capital Management Inc. now owns 2,196,725 shares of the company’s stock worth $93,756,000 after buying an additional 523,550 shares in the last quarter. Rice Hall James & Associates LLC acquired a new stake in shares of Avanos Medical during the first quarter worth approximately $16,219,000. Finally, Champlain Investment Partners LLC increased its holdings in shares of Avanos Medical by 14.5% during the first quarter. Champlain Investment Partners LLC now owns 2,401,987 shares of the company’s stock worth $102,517,000 after buying an additional 304,015 shares in the last quarter. 92.12% of the stock is owned by hedge funds and other institutional investors.

Avanos Medical Company Profile

Avanos Medical, Inc operates as a medical technology company that focuses on delivering medical device solutions to improve patients' quality of life worldwide. It provides a portfolio of products focuses on respiratory and digestive health; pain management solutions; and minimally invasive interventional pain therapies, closed airway suction systems, and enteral feeding tubes.

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